Rammazzotti, Inc $\begin{array}{ll}\text { Unit sales for } 2018 & 26,000 \\\text { Unit production for } 2018 & 26,000\end{array}$

question 60

Multiple Choice

Rammazzotti, Inc., is looking for feedback on company performance. The company compares the budget for the year with the actual costs. Data have been collected below: Rammazzotti Inc., had the following budgeted data: $\begin{array}{ll}\text { Unit sales for } 2018 & 26,000 \\\text { Unit production for } 2018 & 26,000\end{array}$
$\begin{array}{l}\text { Budgeted fixed overhead for } 2018 \text { : }\\\begin{array}{lr}\text { Supervision } & \$ 800 \\\text { Depreciation } & 2,000 \\\text { Rent } & 100\end{array}\end{array}$
$\begin{array}{lr}\text { Budgeted variable costs per unit: } & \\\text { Direct materials } & \$ 0.15 \\\text { Direct labor } & 0.20 \\\text { Supplies } & 0.02 \\\text { Indirect labor } & 0.05 \\\text { Power } & 0.02\end{array}$
$\text { The following actually occurred: }$
$\begin{array}{ll}\text { Actual unit sales for } 2018 & 24,000 \\\text { Actual unit production for } 2018 & 28,000\end{array}$

$\begin{array}{l}\text { Actual fixed overhead for } 2018 \text { : }\\\begin{array}{lr}\text { Supervision } & \$ 850 \\\text { Depreciation } & 2,000 \\\text { Rent } & 100\end{array}\end{array}$

$\begin{array}{lr}\text { Actual variable costs: } & \\\text { Direct materials } & \$ 3,500 \\\text { Direct labor } & 4,900 \\\text { Supplies } & 530 \\\text { Indirect labor } & 1,250 \\\text { Power } & 470\end{array}$
The total budgeted costs for 2018 were

• A)$11,440.
• B)$13,510.
• C)$14,340.
• D)$13,460.

Comprehend the impact of changes in income on economic behavior and market participation.

Distinguish between the primary and secondary jobs market, and their characteristics.

Understand the concept of economic rent and its calculation in different scenarios.

Assess the role of real wages, the minimum wage, and productivity in influencing economic outcomes.

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